Bond market turns against African borrowers as debt costs soar

Bond market turns against African borrowers as debt costs soar

When Zambia first sold bonds in international markets in 2012, the country got so much demand it could have issued 16 times the $750 million it raised. Fast forward three years to an offering in July and the southern African nation only got twice as many bids for the $1.25 billion on sale. The drop…

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